Ag lenders in the Federal Reserve’s Ninth District remained concerned about trade and weather challenges confronting farmers but say the earlier price rally bolstered growers’ immediate outlook, says Joe Mahon, the district’s director of regional outreach, in summarizing the second quarter 2019 Agricultural Credit Conditions Survey.
“Continued low prices, high production expenses and extreme weather is leading to more farm stress, including higher chapter 12 bankruptcies," says a March 22, 2019, report in the Minneapolis Federal Reserve Banks’s recent issue of Fedgazette.
Feedback from farmers, agricultural lenders, suppliers, and other interests in the ag sector, gathered informally by the Minneapolis Fed over the past year or so in meetings and other venues, has suggested that farm balance sheets are increasingly stressed.
Each monthly issue of Ag Equipment Intelligence is like getting one-on-one personal advice from the world's most trusted ag equipment industry experts. Advice that hasn't been watered down or distorted by outside influence, providing the latest and most insightful farm equipment analysis. AEI explores where the ag equipment industry is going — not just where it's been. No filler. No bias. No conflict of interest. You can access the PDF issue archive by clicking here.
In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.